Got US Dept-Education loan. Asked 4 lower settlement paid n full-Denied-Gov't never settles.Why? Any options?

Question

I've been trying to pay off this loan for ages. When called to see if I could eliminate the debt by lower settlement paid in full immediately, I was told "we never settle." When I asked why I simply received the answer, "because we're the government." No other suggestions given. Only told I need to pay off all debt including all interest accrued and its okay to just pay the interest every month. My response, "great another 20 years paying the interest and never touching the principal." She agreed, apologized, and said, "good luck." This doesn't sit well with me. There's got to be some way to negotiate or find another option. Please advise. Thank you!

Perhaps I didn't explain clearly. I've paid high interest over 6 years without elimating much principal. That's ridiculous. I'm not avoiding my debt, I'm trying to resolve it. With other creditors they at least offer lower interest, the gov't nothing. Mind you, it is also my tax paying dollars paying so I'm well aware where my money is going. I work hard, 2 jobs in fact, while taking care of disabled persons, so I work for the social programs the "tax payers" money goes to..so I get it. Its just unreasonable that there is no compromise so I may move ahead while I devote my time to helping others. If you're going to reply, perhaps reread my question and notice I'm seeking an educated answer with suggestions not judgement. Thank you.

Answer 1

Welcome to your goverment! That was going to be my exact answer.

Answer 2

As the above poster said, reality can be a bitter pill. You accepted the loan (taxpayer money) and now don't want to live up to your agreement because it doesn't "sit well with you."

Answer 3

They won't settle and you can't file bankruptcy on it.

Even if it means taking another job, do it, and get them paid off.

Reality is a bitter pill sometimes.

Answer 4

they never settle.